COMMERCE - Deutsche Bank and Commerzbank in Government approved merger talks

Daily GeoPolitical News, Daily GeoPolitical News 2019, GeoPolitical Intelligence, GeoPolitical Analysis, Breaking GeoPolitical News, Latest GeoPolitical News, GEO, Geo News, Geo News Live, Geo News Online, GeoPolitical News, GeoPolitical Analysis, GeoPolitical Intelligence, Geo News Today, GeoPolitics, #GeoPoliticalMatters

Image Credit: Creative Commons

Germany’s two largest financial institutions Deutsche Bank and Commerzbank have convened formal talks about a merger ending months of speculation. A merger could result in massive cost savings, in particular by closing branches. But critics say integrating the firms would be “complicated and risky”. The German government which owns a 15.5% stake in Commerzbank, acquired after the bank was bailed out following the financial crisis, seems to be in favour of a deal. German Finance Minister Olaf Scholz has urged the two to consider merging, as he believes Germany needs a national champion in the banking sector. Combined the banks would have one fifth of Germany’s High Street banking business and control €1.8 trillion of assets, such as loans and investments.

Author

GEÓ NewsTeam

Broadcasting Daily from Gibraltar Newsroom our dedicated desk editors and newsdesk team of Professional Journalists and Staff Writers work hand in hand with our established network of highly respected Correspondents & regional/sector specialist Analysts strategically located around the Globe (HUMINT) Our individual Desk Editors all have specific subject authority as Journalists, Researchers and Analysts covering AI, Autonomous Transport, Banking & Finance Technology, Cybersecurity, GeoCrime, Defence 3.0, Energy & Renewables, BioEconomy and Transport & Logistics. Contact the NewsTeam at [email protected]
View all posts